Vietnam’s largest petroleum retailer Petrolimex has reported that earned almost 1.27 trillion VND (55 million USD) in pre-tax profit in 2020, equivalent to 81 percent of this year’s target and down nearly 76 percent from 2019.
Prime Minister Nguyen Xuan Phuc on January 11 said the Vietnam Oil and Gas Group (PetroVietnam) needs to remain a role model in expanding markets, optimising opportunities, connecting investment, and reviving growth, among other matters.
Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), has set a target to earn about 864 billion VND (37.45 million USD) in after-tax profit this year.
Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).
Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).
Although many forecasts said that inflation would be controlled at less than 4 percent this year, economists recommended it was still important to pay attention to inflationary pressures.
The COVID-19 pandemic has had a heavy impact on every aspect of life in 2020, and the global economy had been especially hard hit. The Vietnam News Agency has selected the ten most significant global economic issues during the year.
The Asian Development Bank (ADB) has revised its 2020 GDP forecast for Vietnam from 1.8 percent to 2.3 percent following positive signs in public investment and domestic consumption.
The Vietnam – Russia oil and gas joint venture Vietsovpetro has reported an oil and condensate output of nearly 3.14 million tonnes in the first 11 months of this year, 9.4 percent higher than its yearly plan.
The Prime Minister recently appointed Hoang Quoc Vuong as Chairman of the Members’ Council of the State-owned Vietnam Oil and Gas Group (PetroVietnam).
Vietnam is one of a few countries worldwide to successfully control the COVID-19 pandemic, creating opportunities to invest in the country and attracting overseas remittances for production expansion.
Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), has estimated that its third-quarter profits stood at more than 171 billion VND (7.37 million USD).
The PetroVietnam Exploration Production Corporation (PVEP) – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) - exploited 2.88 million tonnes of oil equivalent in the first three quarters of this year, surpassing the target by 1 percent.
The Vietnam Oil and Gas Group (PetroVietnam) has reported an oil output of 8.64 million tonnes in the first nine months of this year, 9.4 percent higher than the set target.
The Vietnam Oil and Gas Group (PetroVietnam) sustained its production and business activities in the first eight months of 2020 despites many oil and gas firms around the world struggling with the “dual crisis” of COVID-19 and prolonged low oil prices.
Economic expansion of Laos is forecast to contract this year for the first time since 1980s due to impacts of the COVID-19 pandemic, but the economy will recover in 2021, according to the Asian Development (ADB)’s recent report.
Vietnam’s economy is forecast to expand 1.8 percent in 2020 amid the coronavirus and bounce back in next year, while economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, according to a recent report released by the Asian Development Bank (ADB).
The PetroVietnam Ca Mau Fertiliser Co., Ltd. (PVCFC)’s total urea output reached the milestone 7 millionth tonne on September 13 after almost ten years of operations.
Deputy Prime Minister Truong Hoa Binh has urged the Vietnam Oil and Gas Group (PetroVietnam) to enhance its capacity in petroleum exploration and exploitation to develop the marine economy in the new context.
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